Costa Rica resort offers the pure life with fractional ownership

The infinity pool at sunset at The Palms in Costa Rica.

Photograph by: Image courtesy of Dayle Soppet
, Edmonton Journal

While most westerners are toasting their toes by the fire, Elyse Johnson of Vancouver will be floating in the infinity pool at the Palms resort in Liberia, Costa Rica.

Johnson owns one of only 32 villas in the gated community of the Palms just steps from Playa Flamingo, a pristine beach on the Pacific Ocean in the Guanacaste region, an area speckled with Canadian investors and tourists. The Palms is only 45 minutes from Liberia's recently expanded international airport, now offering direct flights from Canada.

"The infinity pool is definitely my favourite feature," Johnson said from her home while packing for her annual six-week stay at her villa. "It feels like you are right on the edge of the ocean."

The villas are now on offer for fractional ownership through the Private Residence Club, heading into its first full season this month. Prices range from US$129,000 for 1/10th shares to $149,000 for 1/8 shares, with annual club fees at $5,646 and $7,058 respectively. Once the privilege of sole owners, the beach-view villas that sell for US$1.2 million can now be enjoyed by the average investor.

"In this economy, people want flexibility with frequent use by family and friends for minimal investment and maximum returns," explained sales director Jim Jackson while conducting a tour of the villas. "We are meeting that demand."

The Private Residence Club is for people who want a luxurious, fully furnished vacation home with amenities and services, without having to maintain it or invest millions.

Beachfront is especially rare in Costa Rica because of legislation enacted in 1977 that banned beach development, but the original resort was built before then.

In 2005, commercial developer Bob Spence of Sacramento, Calif., purchased the property and has since invested US$20 million in renovations.

Every 2,300-square-foot villa overlooks the white-sand beach and is complete with free long-distance calling and wireless Internet, two balconies, two bedrooms, three bathrooms, a luxurious Jacuzzi tub in the master en suite, Viking appliances in the kitchen and unique finishings from Brazilian floor tiles to Spanish tiles on the roof.

Each detail in the villas was handpicked by Spence and wife Marsha. The mahogany and glass doors in each unit are worth US$30,000 alone, providing transparent indoor-outdoor living and lighting to suit every mood and time of day.

Marsha selected the Tommy Bahama furniture and original artwork, and worked with a local artist for the mural in the on-site fitness centre. She also lends her green thumb to the courtyard garden.

"The biggest draws here are the beautiful private beach and incredible sunsets, so we wanted the villas to reflect these quality experiences," explained Bob Spence over coconut jumbo shrimp at on-site Palapa Grill. A hands-on developer, Spence oversees everything.

He's even on hand for grouting tiles on the new three-bedroom residences, ready for sale next month for full ownership starting at US$2.5 million.

"There are no property taxes in Costa Rica and I assist buyers with all the legal transactions. Buyers become owners in shares at point of sale and can enjoy the 'pura vida' here too," said sales director Jim Jackson, quoting the national motto that means "pure life."

making the move

- Getting there: Direct flights depart Edmonton to Liberia return with United Airlines for as low as $797, or fly Air Canada with quick stop in Houston for as low as $644. The Palms offers complimentary chauffeur service to the villas.

- When to go: November to April is the dry season, with plenty of sunshine and temperatures averaging 28 C. Costa Rica is not prone to serious weather hazards.

- Medical: There are many clinics for emergencies with a new hospital under construction by the Liberia airport.

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